Passage, a Detroit-based Event Ticketing Company, Triples Revenue in Three Years and Reaches 6 Million Ticket Sales
Passage Capital providing growing cash infusions to small events; Passage Digital NFT Collectibles announced
DETROIT, June 23, 2022 /PRNewswire/ -- Passage, a cutting-edge event ticketing company launched in Detroit in 2014, has reached 6 million ticket sales, serving more than 2 million customers, while tripling its revenue in the past three years. In 2019, Passage's revenue was $800,000 on ticket sales of $11.6 million rising to $2.4 million and $37.3 million in ticket sales by 2021; projected revenue for 2022 is at $4.5 million with $65 million in ticket sales. The company specializes in ticketing for small to medium-sized events, offering customized features to maximize sales for event organizers while keeping service fees low. Features include assigned seating, virtual queues, a 'pay what you want' price model, merchandise sales, season passes, subscriptions, concessions and NFT (non-fungible tokens) collectibles, allowing event organizers to use just one vendor instead of multiple vendors. This month also saw the launch of Digital NFT Collectibles, allowing event organizers to sell limited edition digital collectibles to their fans. Unlike other NFT collectibles, Passage Collectibles are focused on event experiences and can be redeemed for physical items, used for VIP access at events, and more. During the pandemic, the company launched Passage Capital, a program to provide cash-infusions to small events that were struggling with upfront costs. The program just reached $250K in cash-infusions and is on pace to make $500K capital-infusions in 2022. For company images and bios click here.
Much of Passage's success comes from the company's unique approach of building category-specific features, functionality and even branding for the event categories it works with. Passage is now the leading provider of haunted house tickets in the US, with over $80 million-worth of tickets sold under the brand HauntPay. Other client categories include sports, particularly semi-pro, minor leagues, and soccer league games; escape rooms; food and drink festivals; axe-throwing and Scottish Highland games. In March 2020, the company launched Passage Virtual Events allowing venues and fans to continue to connect, despite pandemic restrictions. The company has sold tickets for events in all 50 states and as far afield as Canada and Australia. Closer to home, Passage is the official ticketing partner of Detroit City FC. Earlier in 2022, the company partnered with FloSports, which provides live streaming for over 200,000 events every year.
"I am proud to have built a business with a global reach right here in Detroit. By helping thousands of events around the country, and even internationally, grow their own businesses, we're showing just how much of an impact Detroit can have on the world," said Passage CEO and Co-founder Alex Linebrink, a serial tech entrepreneur who has built multiple marketing and financial technology companies.
Passage was recently awarded one of the top 50 companies to watch in Michigan by Michigan Celebrates Small Businesses and the 89th fastest growing company in the Midwest by INC Magazine. Headquartered in Detroit's Hunt Street Station, home to one of the first police academies in the nation, Passage has 14 full time staff, up from four in 2019. Team members are located all around the US and overseas, including in Sri Lanka, the Philippines and Dubai.
Linebrink founded the company with Passage Chief Technical Officer Patrick Misch, a full stack engineer and mobile application developer. The success of Passage, according to Linebrink, is its ability to offer unique features to events so that they can grow their audience. "Through customized features they can't find anywhere else, we help our clients reach more fans and sell more tickets. On average a client that has been with us for two years or more doubles their sales," he explained.
The new Passage Digital NFT Collectibles have a variety of launch partners including Dangerous Pinups, created by a Hollywood actress and filmmaker, and a league-championship soccer team. Passage will also soon be introducing its own "Zombie Buddy" NFT Collectibles, which can be redeemed for a physical art piece or figurine commissioned from a horror artist.
For more information on Passage, go to gopassage.com.
Passage powers ticketing and payments for events and attractions. The all-in-one mobile box office technology allows owners and managers to take control of all their ticket, merchandise, and concession sales both online and at-the-door, all while reaching more fans and making more money. Since 2014, Passage, founded and headquartered in Downtown Detroit, has completed millions of dollars in ticket and product sales for thousands of events around the world. For more information about Passage, please visit gopassage.com.
Contact: Alison Schwartz
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SOURCE Passage
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